Miami Beach, Florida, is a prime location for investing in retail properties, with its unique blend of natural beauty, rich cultural heritage, and strong commercial center. Retail properties in Miami Beach offer a diverse range of investment opportunities, from small boutiques to large shopping centers, catering to the city's approximately 80,000 residents and millions of tourists. The city's iconic Art Deco architecture, white sandy beaches, and clear waters make it an attractive destination for visitors and businesses alike. Miami Beach is also home to several major employers, including the Fontainebleau Hotel, Eden Roc Miami Beach Hotel, and The Setai Hotel, which contribute to the local economy. The city's infrastructure, including the Miami-Dade Transit system and public bicycle sharing program, Decobike, provides easy access to the area. Additionally, Miami Beach is close to Downtown Miami and PortMiami, making it an ideal location for businesses looking to establish a presence in South Florida.
Currently, there are 19 retail properties for sale in Miami Beach, offering a range of options for investors. The average price per square foot for retail properties in Miami Beach is $1,067 USD, with an average size of 8,535 square feet. The largest retail property available for sale is 20,232 square feet. In addition to retail properties, Miami Beach also offers a range of other commercial properties, including shopping centers, restaurants, office properties, and hotels. Shopping centers in Miami Beach, such as the Lincoln Road Mall, offer a variety of retail and dining options. Restaurants in the area, like those on Ocean Drive, cater to the city's diverse culinary scene. Office properties, such as those in the Miami Beach Architectural District, provide a unique and historic setting for businesses. Hotels, like the Fontainebleau Hotel, offer luxurious accommodations for visitors. Overall, Miami Beach's diverse range of commercial properties makes it an attractive location for businesses and investors.
What is the average cap rate for retail properties in Miami Beach?
When it comes to retail properties in Miami Beach, investors can expect an average cap rate of 6.17%. For those new to commercial real estate investing, a cap rate, or capitalization rate, is a crucial metric that helps determine the potential return on investment - to learn more, check out our article on what is a cap rate.
How do location and foot traffic affect retail property values?
In Miami Beach, where tourism and hospitality drive the economy, location and foot traffic play a significant role in retail property values. Properties situated in high-demand areas like South Beach, Lincoln Road, and Ocean Drive, with proximity to popular attractions and amenities, tend to command higher values due to their potential for increased foot traffic and revenue generation, with the average price per square foot being $1,067 USD and average size being 8,535 square feet.
